Home > Posts > Meetings > Finance Committee Minutes – September 17, 2014

Finance Committee Minutes – September 17, 2014

Attending: Cleveland Dietz, Jean Hollinger, Joe Estivill, Mark Lowe

Call to order 6:10pm

Old Business

  1. Audit vs transmitter question

    1. Audit is critical now. CPB funding requires Audit, so Audit is required this year

    2. Need to clarify dates for Audit requirement (and length of years)

    3. Need to clarify the re-classification

    4. Station will need to raise $300k per year to get back to full CPB funding. $208k current budget so would need additional ~$98k to reach Level B

    5. Bring to board – What is bare minimum for CPB, and what is required minimum for grants? [Cleveland]

  2. Development director

    1. Joe – does development director need to be on Finance Committee?

    2. Mark – let Dorothy know where numbers are and ask if she wants to be on the Committee

  3. Lotus Fund Drive recap

    1. Received $9k, but up $1k (estimate)

    2. Cleveland to make call to Lotus tomorrow and get with Jim on how we can get rest of tickets off our hands.

  4. Development Director update

    1. Dorothy Granger hired and working. Meeting and greeting everyone.

    2. Lotus CDs at Spring Hill and BCT Box Office ($6/$4 split, $.90 to make)

    3. Weekly 1-1 meetings for a development plan.

    4. Participating in conversation with Youth Services Bureau grant

    5. Raymond Foundation grant too

    6. Honda Foundation grant

  5. Audit vs Translator from board (see #1 previous)

New business / Strategic

  1. Credit card: Mark – look for better CC with better rates and incentives

Review monthly statements

  1. Analyze current finance

    1. Good chance of meeting budget for Membership Inc and Underwriting

    2. Follies brought in $550

    3. More than 55 people so seems the tickets were sold at less value (?)

    4. Development director money has not appeared yet

    5. Expense issues

      1. Advertising = Joe Lamantia work from last year

      2. Internet services = verizon account not yet closed

      3. Dues & Subscriptions = old bill from last year PRX

      4. Accounting = budgeted for audit

      5. Engineering = power supplies

      6. Building = HVAC

      7. Computer supplies = Grant money from BCCF for equipment for BC Hour

      8. Office = Printer expense and toner

  2. Highlights for board

    1. Cleveland – Close to actual budget on a very ambitious budget

    2. Mark – Concerns on angel donors bringing in money

    3. All – Concerns on audit – need details, etc. to make an informed decision

    4. Mark/Joe – Flip Lotus tickets into a positive – give to vols, donors, partners, etc.

Adjourn 7:10pm

Check Also

WFHB Board of Directors Meeting December 2023 Minutes

BOD.Minutes-23-12-18 (PDF file)